Simple Ventures reposted this
Always test before you build an MVP (and invest). At Simple Ventures, we call the testing process the “minimum viable testing” phase. In the MVT phase, we experiment with how we can *sell* the product/concept *before* writing a single line of code. By using this approach, we can test risky assumptions around: willingness to pay, CAC, ideal client persona, value proposition. Further, many decisions are reversible in the MVT phase relative to the MVP phase, allowing the company to move faster. Speed matters most. In the 0-1 startup validation process, speed is your life force—without rapid test and response feedback loops, virtually *all* decisions get foggier and riskier. I recently came across a Y Combinator-backed AI startup called Hona (YC W24), who described the same MVT approach in their go-to-market: “We actually made some mockups, we had someone design the product on Figma, and we said, ‘Let’s go try to sell this before we even write a line of code and tell people we could have it out by ‘x’ date,’” Griffiths said. “I just started cold-calling law firms and I got five firms to sign up before we had written anything.” There’s an important lesson here. YC says “build something people want”. How can you possibly know what people want in advance? Minimum viable tests. Figmas, pitch decks, landing pages, fake door sign-ups, waitlists — whatever it takes to validate the demand side risky assumptions. You will get better insight on WHAT to build, WHY people value it, and for WHOM. You also learn HOW and WHERE to sell it for best results. In conclusion, key benefits of minimum viable tests include validating your product or new feature idea before committing to its development, refining your pricing strategy before the launch, and enlisting paid beta testers. Test before you invest. This is the way.